Crown Resorts Limited Sells off Global Stake in Las Vegas
Recently updated on February 1st, 2018
It’s been a quiet start to 2018 for Australian gaming firm Crown Resorts Limited. The casino operator was in the headlines for most of 2016 and 2017 following the Macau arrests of 18 employees. Since then, they’ve run into trouble with Australian authorities and investors. In the case of the investors, Crown Resorts had failed to mention the arrests and how it would impact their stakes in the Melco Crown venture.
However, these problems have led to Crown abandoning all plans of expanding their business beyond Australia. This week, they completed the sale of their Alon Las Vegas property to Wynn Resorts. The selling price for the 34.6 acre property was US$300 million (±NZ$407 million). This sale forms part of a US$567 million (±NZ$769 million) cost-cutting plan set out by the disgraced casino operator to recoup its Macau losses. Other notable cuts include their Macau resort stake to Melco Resorts and Entertainment.

More trouble for Crown Resorts Limited
In late 2017, Crown Resorts Limited ran into trouble with the Australian courts for slot tampering at the Crown Melbourne. According to reports, they had illegally changed Aristocrat games to tempt gamblers. One case involves a gambling addict who filed a suit against the casino operator and Aristocrat. However, the federal government has also been made aware of the allegations. An investigation is reportedly underway.
Alon Las Vegas Property
The sale of the Alon property is quite a hard knock for the casino chain. They purchased the property in 2014, and had plans for a large resort. Their plan for the venue included a casino floor with 1100 gaming tables and machines, as well as the same number of hotel rooms. Additionally, they had planned a large ballroom, pool area and nightclub on the property.
To make matters worse, they have sold a 62% stake in CrownBet and a US$56 million (±NZ$76 million) stake in Caesars Entertainment. Hopefully, Crown Resorts Limited will be playing more carefully with their bets in 2018.
Published by Taralynn February 1, 2018 Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
About the Author

Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
More Posts from Taralynn.
Related Posts
Published by Taralynn February 14, 2018 Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
Recently updated on February 14th, 2018The World Health Organisation (WHO) is considering classifying gaming addiction as a mental disorder. However, there is no exact research to back up the possible classification. What’s more, a draft by WHO lists criteria used to identify gambling addiction as a way to identify a gaming disorder. This approach could […]
Published by Taralynn August 31, 2021 Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
Recently updated on August 31st, 2021Many players are touting the best system to play roulette, but the unfortunate truth is that the methods don’t always work. You will bet a lot of money and win some back, but you won’t be guaranteed plenty of wins. There are plenty of betting systems out there, so we’ll […]
Published by Taralynn April 12, 2018 Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
Recently updated on April 12th, 2018The Nevada Gaming Control Board has reached a unanimous decision to amend certain gambling regulations in the state. Their recommendations have been made at two public hearings in Carson City and Las Vegas. These suggested changes will probably be adopted by the Nevada Gaming Commission on April 19th. At least […]
Published by Mark May 3, 2019 Categorie(s): Latest News, New Zealand, North Island, South Island
Recently updated on May 3rd, 2019Sports Betting legalization is continuing to expand in the United States. Radio companies in the country have said the recent moves are providing a much-needed economic boost in the broadcasting field. Up until recently, sports betting in the United States were considered illegal. There have been plenty of changes, however, […]
Published by Taralynn February 7, 2018 Categorie(s): Big Wins, Bonus Codes, High Payouts, Latest News, New Zealand, North Island, Promotions, South Island
Recently updated on February 7th, 2018Yggdrasil Gaming’s premier progressive jackpot slot, Joker Millions, has just paid out at Leo Vegas Casino. The lucky Norwegian casino player cashed out €1.9 million (±NZ$3.2 million) after a winning spin. This will be the third jackpot win from the game developer since October of 2017. Joker Millions has a […]